Term Life insurance makes sense in so many situations.
Term life insurance expires after a set number of years, making it a good choice for clients who expect to build wealth over time and won’t need the financial benefits life insurance provides later in life. Term insurance allows your clients to choose the length of the policy. Common terms tend to be 10-30 years and most policies' death benefits and premiums stay the same throughout the length of the policy.
Simplified Issue Term Insurance is life insurance that requires very few medical questions on the application. There is no medical exam and it's an excellent way to provide coverage for your clients who may not be in the best of health.
If you have questions about which Life product to select for your client, reach out to us.
Simplified Issue Term Insurance is life insurance that requires very few medical questions on the application. There is no medical exam and it's an excellent way to provide coverage for your clients who may not be in the best of health.
If you have questions about which Life product to select for your client, reach out to us.
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Universal Life, Indexed Universal Life & Guaranteed Universal Life
Universal Life is different from Whole Life because it doesn’t have a guaranteed death benefit. It accumulates cash value on a tax-deferred basis with interest rates that may change over time. Your client can adjust their policy, and sometimes even their premiums as their life changes. By increasing the amount of premium payments (or frequency) your client has the opportunity to build even more cash value over the life of the policy.
Guaranteed Universal Life (GUL) insurance has an interest rate that is included in the premiums and it remains the same no matter how the market performs. As long as your client pays their premiums, they'll have coverage and their death benefit won’t decrease.
Indexed Universal Life (IUL) insurance policies have adjustable premiums. Your client can underpay or even miss a premium and may even be able to adjust the death benefit of their policy. What makes IUL different is the way the cash value is invested.
Guaranteed Universal Life (GUL) insurance has an interest rate that is included in the premiums and it remains the same no matter how the market performs. As long as your client pays their premiums, they'll have coverage and their death benefit won’t decrease.
Indexed Universal Life (IUL) insurance policies have adjustable premiums. Your client can underpay or even miss a premium and may even be able to adjust the death benefit of their policy. What makes IUL different is the way the cash value is invested.